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Cadillac Aggressively Going After Rivals With Generous Lyriq Discount

Cadillac is eager for buyers to add the all-electric Cadillac Lyriq to their personal vehicular fleets. To encourage sales, the luxury marque is offering quite an attractive lease incentive toward the luxury crossover aimed at attracting current owners or lessees of rival automakers.

Specifically, a Cadillac Lyriq lease incentive offers $3,000 toward the lease of the luxury electric crossover. However, interested buyers must meet certain criteria to qualify: they must either own a 2010 model year or newer Acura, Audi, BMW, Ford, Honda, Hyundai, Infiniti, Jeep, Kia, Lexus, Lincoln, Mercedes-Benz, Toyota, Volvo, Porsche, Tesla, Genesis, Polestar, or Rivian for at least 30 days prior to the new vehicle sale, or lease a 2019 model year or newer vehicle from any of the aforementioned automakers.  Interestingly, the fine print doesn’t specify that a trade-in is required.

Sales Numbers - D-Segment Luxury EV CUVs - Q2 - 2024 - USA

MODEL Q2 24 / Q2 23 Q2 24 Q2 23 YTD 24 / YTD 23 YTD 24 YTD 23 YTD 24 SHARE YTD 23 SHARE
TESLA MODEL Y -5.21% 100,000 105,500 +9.71% 209,000 190,500 90% 98%
CADILLAC LYRIQ +441.10% 7,294 1,348 +465.37% 13,094 2,316 6% 1%
LEXUS RZ +333.05% 4,036 932 +404.83% 5,639 1,117 2% 1%
AUDI Q8 E-TRON +132.48% 1,811 779 +339.67% 3,425 779 1% 0%
JAGUAR I-PACE +226.93% 546 167 +362.26% 1,225 265 1% 0%
TOTAL +4.56% 113,687 108,726 +19.18% 232,383 194,977

Caddy’s plan seems to be working. Sales of the Lyriq peaked during Q2 2024, moving 7,294 units and placing second only to the Tesla Model Y in the D-segment luxury electric crossover division. For comparison, the Model Y sold 100,000 units last quarter, which is substantially more than the 7K+ recorded by the Lyriq. While it still has quite a bit of ground to cover, sales of the Lyriq are steadily improving, and it’s likely that discounts toward its purchase or lease will continue to drive its numbers skyward.

In fact, 40 percent of Lyriq buyers are new to Cadillac, meaning they owned a vehicle from a competing make prior to purchasing their Lyriq. With that in mind, it’s likely that the new Cadillac Lyriq discount will only help that number grow.

Be sure to subscribe to Cadillac Society for Cadillac Lyriq news and to-the-minute Cadillac news coverage. We also invite you to join the latest discussions in our Cadillac forums and Cadillac Lyriq forum.

Cadillac Lyriq Photos

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Alexandra Purcell

Alexandra is a Colorado-based journalist with a passion for all things involving horsepower, be it automotive or equestrian.

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